Serious ill health

If you are suffering from a life threatening illness it may be possible to receive all of your pension as a tax-free lump sum (calculated on reduced terms) whilst continuing to provide a pension for your dependents should you die. HM Revenue and Customs (HMRC) will only allow such payments if you have a short time to live. We will ask you to provide written confirmation from a registered medical practitioner that you have less than 12 months to live. Any lump sum must be paid before age 75, you must have part or all of your Lifetime Allowance available and you must not have previously drawn any of your APS benefits.

Alternatively, you have the option to transfer your pension benefits to another registered pension provider. If you want to explore this option, we recommend receiving appropriate financial advice.

Please contact us if you wish to learn more about these options.